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Equinox

Equinox

Milan, Italy·Founded 2000··equinox-investments.com

Equinox is an Italian-led mid-market private equity firm founded in 2000 by Salvatore Mancuso, investing through control and co-control buyouts in Italian family businesses with revenues up to about EUR 200m across industrials, consumer, healthcare, technology and the energy transition; the investment team operates from Milan while the fund manager, Equinox AIFM S.A., is domiciled in Luxembourg. It has raised four funds (Equinox One through Four) totalling close to EUR 900m and is now investing Equinox IV, an Article 8 SFDR vehicle whose first close of EUR 180m was reached in October 2025.

AUM
Funds
4
vintages 2001–2025
Portfolio
15
Exits
7

Key facts

HQMilan, Italy
Founded2000
Employees14+

Recent exits

Quin (Quid Informatica Group)
IT Services2026 · 7yr hold
Quid Informatica
Software2025 · 6yr hold
Clas
Consumer2024 · 4yr hold
Salpa & Cherubini
Consumer2023 · 2yr hold

Coverage notes

4 funds tracked, 22 portfolio companies (15 active · 7 realized). Verified weekly from public filings and deal announcements.

Sector breakdown

22 companies
Consumer
9 · 41%
Industrials
7 · 32%
MedTech
2 · 9%
Software
1 · 5%
IT Services
1 · 5%
Energy
1 · 5%
Financials
1 · 5%

Funds & portfolio

Every fund Equinox has raised, with its portfolio companies. Hand-checked from public filings.

4 funds
Equinox FourBuyout
2025 · 1yr1 active

Unrealized

1 held
IndustrialsItaly· Entry 2026
Equinox ThreeBuyoutHarvesting
2019 · 7yr€360M4 active · 5 realized

Unrealized

4 held
Migal Group
Migal GroupActive
IndustrialsItaly· Entry 2021
ModulblokActive
IndustrialsItaly· Entry 2023
MVC GroupActive
ConsumerItaly· Entry 2019
Pizzium
PizziumActive
ConsumerItaly· Entry 2021

Realized

5 exits
ClasExited 2024
ConsumerItaly· Entry 2020
Trade Saleto
Pedemonte GroupExited 2022
ConsumerItaly· Entry 2020
Trade Saleto
Quid InformaticaExited 2025
SoftwareItaly· Entry 2019
Secondaryto
IT ServicesItaly· Entry 2019
Secondaryto
Salpa & CherubiniExited 2023
ConsumerItaly· Entry 2021
Secondaryto
Equinox TwoBuyoutHarvesting
2007 · 19yr€300M5 active · 2 realized

Unrealized

5 held
Adler
AdlerActive
ConsumerGermany· Entry 2013
AirFourActive
IndustrialsItaly· Entry 2008
AlitaliaActive
IndustrialsItaly· Entry 2009
Bio EnergieActive
EnergyItaly· Entry 2008
HopaActive
FinancialsItaly· Entry 2008

Realized

2 exits
Esaote
EsaoteExited 2018
MedTechItaly· Entry 2006
Trade Saleto
Liva NovaExited 2015
MedTechItaly· Entry 2009
Trade Saleto
Equinox OneBuyoutHarvesting
2001 · 25yr€220M5 active

Unrealized

5 held
Church's
Church'sActive
ConsumerUK· Entry 2003
Citterio
CitterioActive
ConsumerItaly· Entry 2005
IndustrialsItaly· Entry 2003
Intercos
IntercosActive
ConsumerItaly· Entry 2003
Manuli FilmActive
IndustrialsItaly· Entry 2003
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Investment team

Senior partners. Hand-checked from public filings and the firm's own site.

Andrea Bovone
Partner

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Last updated July 2026 · Sourced from public filings · Report an issue